CA DEPT TRANSPORTATION 5B - 2004

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REcrr ALS L The parties hereto entered into an Agreement (Document No. 015491) on March 25, 2003. Said Agreement defined the terms and conditions of a project consisting of acquiring and financing right of way and developing and constructing a Scenic Enhancement near Interstate 5 on Patricia Lane in the City of Santa Ana, referred to herein as "PROJECT", 2. The parties hereto also entered into an Amendment No.1 to Agreement (Document No. 015491) on May 3, 2004, to acknowledge STATE's PROPERTY VALUE CONTRIBUTION of 69% proportionate interest in PROPERTlES, a value of $259,985, to CITY, and to decrease the STATE-managed TEA fund amount for PROJECT from $533,000 to $439,000, 3. The purpose of this Amendment 2 is to acknowledge STATE's PROPERTY VALUE CONTRIBUTION of the entire fair market value in PROPERTIES, a value of $376,790, to CITY, and to decrease the STATE -managed TEA fund amount for PROJECT from $439,000 to $349,000 as shown in revised Exhibit B, dated October 28, 2004, attached to and made a part of this Amendment, superseding Exhibit B, dated January 30, 2004, shown in the amended Agreement. IT IS THEREFORE MUTUALLY AGREED: L Article 4 of Recitals section of the amended Agreement (Document No. 015491) is hereby amended to read as follows: "4, STATE desires to provide STATE-managed TEA funds, up to 75.2% of the eligible PROJECT costs, as described in Exhibit B, not to exceed the amount of $349,000 to CITY for PROJECT. Said amount of TEA-managed Funds to be provided by STATE to CITY does not include STATE's PROPERTY VALUE CONTRIBUTION to CITY for PROJECT." 2. Article 2 of Section 1 of the amended Agreement (Document No. 015491) is hereby amended to read as follows: "2. To bear all actual cost of PROJECT, including all capital and support costs, in excess of STATE-managed TEA funds of $349,000 and STATE's PROPERTY VALUE CONTRlBUTION. Estimated costs of PROJECT are shown in Exhibit B." 2